It is possible that they have agreed terms with a driver who can provide a better financial package for them. Vitaly Petrov and Sebastien Buemi are two names who have already been mooted as potential replacements.

Glock has been with Marussia since their first season, as Virgin Racing, in 2010. The 30 year-old German, who signed a new three-year deal in 2011, is probably best known in the UK for having been at the wheel of the Toyota which was passed by Lewis Hamilton on the penultimate corner of the final lap of the final race in Brazil in 2008, a pass which secured Hamilton the drivers’ title by a solitary point.

Chilton, 21, was last month confirmed as Britain's fourth Formula One driver - joining Hamilton, Jenson Button and Paul di Resta - having spent the last six races of 2012 as Marussia's reserve driver.

Bild also reported on Sunday that Williams Formula One team shareholder and executive director Toto Wolff would be joining Mercedes as their head of motorsport and replacement for Norbert Haug.

Mercedes - who have signed Hamilton to partner Nico Rosberg for 2013 - said they did not comment on speculation. Williams also declined to comment.

If the report is confirmed, the move would be seen as a setback for Williams as they prepare for the new season starting in Australia on March 17.

The Austrian was handed a far more hands-on role in July last year, working closely with team founder and principal Frank Williams. He has also guided the career of the team's new Finnish driver Valtteri Bottas.

Bild said on its website that the move could be announced at the DTM (German Touring Car) test in Valencia which begins on Tuesday.

Wolff, whose Scottish wife Susie drove a Mercedes in the DTM, is a shareholder in HWA AG which runs a Mercedes DTM team and works with Mercedes in Formula Three.